02/18/2011

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Global insulation demand to approach 23 billion m2 in 2014

According to the new market study World Insulation by the Freedonia Group, Inc., world demand for insulation is forecast to increase 5.0 % per year through 2014 to nearly 23 billion m2 of R-1 value, a substantial improvement over the 2004 - 2009 rate. Insulation consumption in most industrialising nations will continue to expand at a healthy pace. In developed countries, sales of insulation materials are expected to rebound after falling sharply in 2008 and 2009 because of the global financial crisis.Residential building construction spending gains will be the primary driver of growth. Sales of insulation for residential applications in North America will rise at a double-digit pace between 2009 and 2014, as the US housing market recovers. In Western Europe, insulation demand will expand moderately, after declining between 2004 and 2009 due to a drop in residential construction activity in the latter part of the period. Ongoing rural-to-urban migration in Asia, the Africa/Mideast region, and Central and South America will stimulate housing construction in urban areas and thus insulation consumption. Non-residential construction activity and associated insulation demand in industrialising regions are also forecast to expand at a healthy pace. The adoption of new insulation standards for buildings and the implementation of government programmes to encourage insulation use will spur product sales in many countries.The insulation market in North America will register the fastest growth through 2014, driven by the large US market. Insulation consumption in the US is expected to increase more than 7 % per year during this time, after it declined dramatically between 2007 and 2009 because of turmoil in the housing sector. The US residential segment will be responsible for nearly all insulation market gains in North America through 2014.More than 40 % of all new insulation demand generated during the 2009 - 2014 period will be attributable to the Asia/Pacific region. Insulation consumption in the region is predicted to increase almost 6 % annually through 2014 because of solid advances in process manufacturing, appliance shipments, and residential and non-residential building construction. Several Asian countries are forecast to record rapid growth, including India, China and Indonesia. China alone will account for 29 % of all new global insulation demand between 2009 and 2014. These and other trends are presented in the new study.

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